Gas Prices From Around the World

When the average gas price in the United States held above $3, most consumers were angry.  Whether it was at the Federal Government for not stepping in or the oil companies that appeared to be gouging consumers while achieving multi-billion dollar profits, Americans were pretty enraged.

However, the sentiment from around the globe was less than supportive for Americans, with the universal theme seemingly being “deal with it.”  The less than sympathetic feeling was probably due to the fact that even at $3 per gallon Americans were still getting very cheap gas in comparison to the rest of the world.

In doing some investigation on the internet, I was able to come up with an older list from CNN.com regarding gas prices around the world.  Obviously, with the nearly 20% fall in the price of oil from this summer’s record highs, this list is skewed a bit.  At the same time, it’ll show the wide discrepancies in worldwide gas prices (keep in mind, the average gas price in America at the time was between $2.80 and $2.95):

  • Oslo, Norway – $6.99
  • Hong Kong – $6.54
  • London, England – $6.36
  • Rome, Italy – $6.15
  • Frankfurt, Germany – $6.10
  • Tokyo, Japan – $4.93
  • Mumbai, India – $4.13
  • Sydney, Australia – $3.76

There are many reasons for why there are such big differences in the prices of gasoline throughout the world.  The biggest reason seems to be the level at which gasoline in taxed by each country’s government.  It seems most European countries place relatively high taxes on gasoline, thus driving the price upwards.

Another issue regarding the price of gas is the supply and demand factor.  Obviously if there is a large demand for fuel but it takes a long time to get new supplies in or there aren’t many gas stations, the price will be driven upwards.

So, even if gas prices return to $3 or ultimately end up going higher, you should probably be thankful you don’t live in Norway.

Comments

  1. i think that the gas should go down because then noone can afford to put gas in there car’s,trucks or anything and what happen to like say emergancy’s happen you know some people have a lot of health issues and many are not able to walk anywere not to mention there is no taxi cab’s in alot of places.i feel that it should be at least 2.15 a gallon so we can afford gas.

  2. tammie your a idiot. you were on to something there when you said about an emergency situation but then you were like “um… i think they should lower the price of gas so everyone can afford it.” your just dumb. too many people are making too much money off of this it will never go back down. even if they started drilling in my back yard they wouldnt drop the price people will pay it and the goverment will make trillions of dollars off of it. thats why they will never drop the price.

  3. “even if they started drilling in my back yard they wouldnt drop the price people will pay it and the goverment will make trillions of dollars off of it. thats why they will never drop the price……”,

    Famous last words. Right now, it dropped to $1.58/Gallon here in Cincinnati.

    This isn’t going to last though, oil companies are probably trying to kickstart the economy – the big oil barons have money in the stock market also.
    It will probably start to go back up sometime in March 2009 – just when heating oil season ends.

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